Create A Nft

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Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea is among them, and it’s worth checking out.

If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.

Get on board, and discover what you can do with OpenSea and also see the NFTs available to view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Create A Nft

The goal for OpenSea was to simply provide an online marketplace for artists to upload commissions with no additional fees. It has more functions which allow you to market your artwork without any issues.

For the registration process, you don’t have to give too many details about yourself. All you need to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology which is utilized for the majority of transactions. It is also based on the Polygon blockchain to ensure the lowest cost and speediest trading.

With these two kinds of blockchains that are available you can pick which one you want to transfer your NFT to as an seller. This will ensure the security of your NFT, along with the people who want to purchase it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything as simple as a domain name, to a piece of art by an artist you admire. Anyone can be a seller however, it takes time for anyone to be an established one.

There are a variety of NFTs from the selection of NFTs available at OpenSea, and you can become a part of the collection! You can create your own market on this site, as well as find NFTs that you would like to purchase for yourself.

Create A Nft

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What is an NFT?

In a recent advancement for the cryptocurrency industry, the term “NFT” has been going around so long on the internet that many millennials are familiar with it but aren’t exactly sure what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.

One of the latest ways you can buy is an NFT. The NFT is a non-fungible token that is exclusive and cannot be substituted. It can be an item of any rareness like rare baseball trading cards in mint condition, or a unique vinyl album.

There is no limit to what an NFT could be, since it’s a non-fungible item you’re selling online. In simpler terms, you could simply consider an NFT being a virtual collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item you uploaded on the marketplace, and selling it. Typically, this is official once you fill out the correct information about the NFT and then upload it to the marketplace.

On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and making a collection to begin! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain and money transfer tokens). After that you are able to upload it, if it’s within the limit of 100MB.

It is possible to wait and see how transactions progress from now on to see whether OpenSea is the marketplace for you.

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What NFTs can you find here?

In this moment you’re probably thinking about the kind of NFTs you shop for here and what you can also sell if you choose to pursue that route. The type of NFT that you can purchase is unlimited since there’s a broad range of ways to approach it.

You could be selling digital items, trading cards games domain names, some physical items! Find out what you think will yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that differentiates OpenSea from the other options. There’s no cost for gas when you utilize this feature to make and then sell the NFTs. This is essentially a way to ensure that you get the most profit when you sell because you won’t need to spend on any additional charges.

Very few NFT marketplaces provide this feature, so this is a great way to earn a high return from your portfolio.

Referral Program

A Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there, you’ll receive 2.50% of the sale amount, which allows you to make more money from this act.

Other NFT marketplaces don’t have this kind of feature either This is a further advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.

The mobile apps from OpenSea are accessible on both iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are at your disposal to exchange your fiat money for cryptocurrency using these platforms. Create A Nft

You can convert your fiat money via credit card or Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and many more!

Each of them has the option to exchange for ETH, which is the standard crypto payment in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built on an ETH blockchain, all wallets which are part of the same network are suitable for this website.

Here’s a list of different crypto wallets you can use in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and more!

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only, and the function to purchase cryptocurrency with a credit card. Create A Nft

To know more about it You can go through their FAQs to see an overview of how you can get started and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:

Pros

  • Mobile apps are available that are compatible with iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalty rates of up to 10% for artists (low royalty rates).
  • You cannot buy or sell products via our mobile apps.
  • Only supports cryptocurrency as its method of payment.
  • The use of a Crypto wallet is required to use this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll easily recover that amount when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Create A Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as a form of payment. It’s an ideal platform for artists using it to sell NFTs due to its low gas fees and low commission fees that you have to pay.

You can browse and purchase a vast collection of digital goods in this NFT marketplace and you must go through it!

Is OpenSea legitimate and is it safe?

Answer: Yes! OpenSea has been a reliable marketplace since it was founded on the 1st of December in 2018. Since the system it operates on is built on a blockchain that is secure, you can declare that transactions are protected and secured.

Additionally as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed to your account or collection you uploaded to reassure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are safe.

How can I earn royalties on OpenSea?

As an artist, you’ll be paid only 10 percent of the royalties when you upload the NFT. This is considered to be a reasonable amount compared against other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as many others to accommodate more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can make use of to access OpenSea.

What are the payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop/mobile application?

As mentioned before, there is definitely an official mobile app by OpenSea for both iOS and Android. Install it from their app store and begin browsing through the collection right now!

There is also a desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts as well as receive alerts on any updates that affect your account while you’re on the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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